In 2023, household expenditure on clothing in Finland stood at 1.6% of GDP. The projections for the coming years indicate a slight decline to 1.5% in 2024, followed by a further drop to 1.4% from 2025 to 2028. This suggests a modest contraction in household spending on clothing as a percentage of GDP. The year-on-year variation shows a decrease of 6.25% from 2023 to 2024, and a further stabilization towards a CAGR of approximately -2.5% over the next five years.
Future trends to watch for include changing consumer preferences towards sustainable and ethical fashion, potential economic fluctuations impacting disposable incomes, and technological advancements in the retail sector that might influence expenditure patterns. Additionally, the macroeconomic environment and shifts in population demographics will play crucial roles in shaping future spending behaviors on clothing in Finland.
